During the week ending June 8, in the Chinese domestic market average cold rolled coil (CRC) and cold rolled sheet (CRS) prices have edged down, while transaction activity in the overall market has shown some improvement though it remains at low levels. Average cold rolled product prices in the local Chinese market are presented in the following table.
During the given week, the average prices of CRC have softened, while some improvement in transaction activity has been seen in the latter part of the week. Downstream buyers have been more willing to buy at the lower prices. Currently, cold rolled materials are only RMB 200/mt ($30/mt) higher in price compared to hot rolled materials, and so room for further downward movement of CRC prices is limited. Meanwhile, Tangsteel is planning to carry out maintenance work on one of its cold rolling production lines at the end of June, which will likely reduce its CRC output and provide support for CRC market prices. It is thought that CRC prices in the Chinese domestic market will likely move sideways in the coming week due to the Dragon Boat Festival Holiday (June 9-12).
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Thin CRC | 1.0 mm x 1,250 mm x C | ST12 | Shanghai | MaSteel | 2,860 | 435 | ↓60 |
| Tianjin | Tangshan Steel | 2,650 | 403 | ↓130 | |||
| Lecong | MaSteel | 2,860 | 435 | ↓100 | |||
| Average | - | 2,790 | 425 | ↓97 | |||
| Thin CRS | 1.0 mm x 1,250mm x 2,500 mm | ST12 | Shanghai | Anshan Steel | 2,910 | 443 | ↓20 |
| Tianjin | Anshan Steel | 3,450 | 525 | ↓100 | |||
| Lecong | Anshan Steel | 3,210 | 489 | ↓100 | |||
| Average | - | 3,190 | 486 | ↓74 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.57 RMB